Wolverine World Wide, Inc.

Wolverine World Wide, Inc.

WWWยทNYSE

$15.99

-5.7%
Consumer CyclicalApparel - Footwear & Accessories

Wolverine World Wide, Inc. designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. The company operates through two segments, Wolverine Michigan Group and Wolverine Boston Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots. The company sources, markets, and licenses a range of footwear styles, such as shoes, boots, and sandals under the Bates, Cat, Chaco, Harley-Davidson, Hush Puppies, Hytest, Keds, Merrell, Saucony, Sperry, Sweaty Betty, Wolverine, and Stride Rite brands. It also markets Merrell and Wolverine branded apparel and accessories, as well as licenses its brands for use on non-footwear products, including the Hush Puppies apparel, eyewear, watches, socks, handbags, and plush toys; Wolverine branded eyewear and gloves; and Keds, Saucony, and Sperry branded apparel. In addition, the company markets pigskin leather under the Wolverine Warrior Leather, Weather Tight, and All Season Weather Leathers trademarks for use in the footwear industry. Further, it operates brick and mortar retail stores, and eCommerce sites. The company sells its products to department stores, national chains, catalog and specialty retailers, independent retailers, uniform outlets, and mass merchant and government customers through retail stores, as well as through third-party licensees and distributors, and joint ventures. As of January 1, 2022, it operated 143 retail stores, as well as 65 consumer-direct eCommerce sites. Wolverine World Wide, Inc. was founded in 1883 and is based in Rockford, Michigan.

At a Glance

Live Snapshot
Market Cap$1.31B
EPS1.1400
P/E Ratio14.03
Earnings Date08/05/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal ยท Driver ยท Risk

Signal

High confidence

Valuation multiple is mid-range (P/E 14.0).

Valuation inputs: P/E 14.0, earnings yield +7.1%, momentum -5.7%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is strong (ROE +23.5%, ROIC +9.6%).

Profitability stack: net margin +5.1%, ROE +23.5%, ROIC +9.6%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Downside profile is elevated and scenario stress-testing is essential.

Risk factors: liabilities/assets +75.2%, momentum -5.7%, net margin +5.1%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

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Wolverine World Wide, Inc. Market vs Earnings Trajectory

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Wolverine World Wide, Inc.

Wolverine World Wide, Inc. Fair Value Envelope

WWW ยท NYSE

Our analysis suggests that WWW has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $15.99, this represents a potential HIDDEN relative to our calculated worth for Wolverine World Wide, Inc..

Intrinsic Value
Current Price: $15.99
3Y-324.0%
5Y+39.0%
10Y-48.0%
3Y-16.0%
5Y-22.0%
10Y-16.0%
3Y-342.0%
5Y+40.0%
10Y-52.0%
3Y+12.0%
5Y+57.0%
10Y+40.0%
3Y+13.0%
5Y+76.0%
10Y+60.0%
3Y-17.0%
5Y-34.0%
10Y-22.0%
Wolverine World Wide, Inc.

Wolverine World Wide, Inc. Profit Bridge

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Revenue1.87B
Cost of Goods Sold (994.20M)
Gross Profit880.10M
Operating Expenses (729.90M)
Operating Income150.20M
Interest Expense (32.80M)
Other Income/Expense-28.70M
Pretax Income121.50M
Income Tax (20.50M)
Net Income95.80M
Net Income
95.80M

Profitability Analysis

Gross Margin

47.0%

Strong gross margins indicate healthy pricing and efficient production or service delivery.

Operating Margin

8.0%

Acceptable margins but limited operational leverage. Operating expense control is important.

Net Profit Margin

5.1%

Moderate profitability with room for improvement. Monitor interest expenses and tax efficiency.

Effective Tax Rate

16.9%

Moderate tax rate typical for most corporations. Represents standard tax burden on profits.

Profitability Insight

Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.

47.31%
Gross Profit Margin
6%
3Y+22.0%
5Y+11.0%
10Y+15.0%
8.01%
Operating Profit Margin
39%
3Y-364.0%
5Y+24.0%
10Y-29.0%
5.11%
Net Profit Margin
87%
3Y-389.0%
5Y+80.0%
10Y-43.0%
23.48%
Return on Equity
51%
3Y-265.0%
5Y+115.0%
10Y+16.0%
5.60%
Return on Assets
95%
3Y-392.0%
5Y+111.0%
10Y-39.0%
9.62%
Return on Invested Capital
42%
3Y-845.0%
5Y+55.0%
10Y-20.0%
WWW

Wolverine World Wide, Inc. Cash Conversion Engine

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Net Income95.80M
Depreciation & Amortization25.90M
Stock-Based Compensation24.40M
Change in Working Capital8.80M
Others-26.80M
Capital Expenditures-14.50M
Free Cash Flow121.60M

Cash Flow Quality Analysis

FCF Conversion Rate

126.9%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

10.7%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

-24.0%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

+$8.80M

Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.

Cash Flow Quality Insight

Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.

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Wolverine World Wide, Inc. Funding & Solvency Profile

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Cash & Cash Equivalents119.60M
Net Receivables185.50M
Inventory280.30M
Other Current Assets86.70M
Total Current Assets672 M
Property, Plant & Equipment182.30M
Goodwill & Intangible Assets607.70M
Long-Term Investments0.00
Other Non-Current Assets177.90M
Total Non-Current Assets360 M
Total Assets
1.64B

Financial Health Analysis

Current Ratio

1.53x

Strong liquidity. The company has adequate resources to meet short-term liabilities.

Debt-to-Equity Ratio

2.02x

High financial leverage. Heavy reliance on debt may indicate increased financial risk and potential solvency concerns.

Working Capital

234 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

41% Current

Balanced asset mix between current and non-current assets, typical of many stable businesses.

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Wolverine World Wide, Inc. Street Expectations Map

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Wall Street analysts project that WWW stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 21.25, with estimates ranging from a low of 16.00 to a high of 26.00.

Lowest Target
16.00
0.06%
Consensus Target
21.25
32.90%
Highest Target
26.00
62.60%

The consensus 1-year price target stands at 21.25, with estimates ranging from a low of 16.00 to a high of 26.00.

Analyst Consensus Analysis

Upside Potential

+32.9%

Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.

Analyst Agreement

47.1% spread

Mixed analyst views. Wide target range suggests differing opinions on key value drivers, growth prospects, or risk factors.

Analyst Conviction

Moderate

Neutral sentiment. Fair value pricing with moderate agreement suggests wait-and-see approach or catalyst-driven opportunity.

Market Sentiment Insight

Monitor and evaluate: Current analyst consensus suggests limited conviction or near-term catalysts. Stay informed on company developments and reassess positioning as new information emerges.

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Wolverine World Wide, Inc. Insider Positioning

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During the last 12 months, insiders have purchased $525K and sold $87K worth of WWW shares, resulting in $437K of net buying activity.

3 Months

Bought

0

0.00

Sold

5.5K

87.34K

Net Activity

-87K

-$87K

3-6 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

6-9 Months

Bought

33.3K

524.57K

Sold

0

0.00

Net Activity

+525K

+$525K

9-12 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

Top Buyers

1
PD

Price Demonty

Director

25.0K sharesโ€ข1 transactions

$394K

2
BJ

Boyle Jack

Director

6.3K sharesโ€ข1 transactions

$99K

3
LNT

Long Nicholas T.

Director

2.0K sharesโ€ข1 transactions

$32K

Top Sellers

1
LBJ

Lauderback Brenda J

Director

5.5K sharesโ€ข1 transactions

$87K

Insider Activity Analysis

Net Insider Sentiment

Bullish

Strong bullish signal with $437K net buying. Insiders are aggressively accumulating shares, suggesting significant confidence in future prospects.

Buy/Sell Ratio

6.01:1

Exceptional buy/sell ratio. Buying dramatically outweighs sellingโ€”one of the strongest possible insider signals.

Recent Trend (3 Months)

$87K

Heavy recent selling activity. Recent insider sales notably exceed purchasesโ€”may warrant investigation into company developments.

Insider Participation

High Buying

3 insider buyers vs. 1 sellers. Broad-based buying across management team suggests widespread confidence.

Insider Activity Insight

Compelling insider conviction: The combination of strong buy/sell ratio and multiple buyers suggests insiders see attractive risk/reward. Consider this alongside fundamental analysis for confirmation.

0.67%
Dividend Yield
20%
3Y-3.0%
5Y+119.0%
10Y+146.0%
ย 

www Dividend History

WWW
10Y CAGR +5%
Latest $0.1
Annual $0.5
5 year growth trend
Last Period: +0%